How do you find the probability of an event given the odds of the event occurring is 2:1?
1 Answer
Mar 16, 2018
The desired probability is
Explanation:
Probabilities always range between
The odds on the other hand are defined as the probability that the event will occur divided by the probability that the event will not occur.
As odds of the event occurring is
the probability that the event will occur is twice the probability that the event will not occur.
But if probabilty of happening of event is
Hence
and desired probability is